SA business confidence unexpectedly falters
The RMB/BER Business Confidence Index shows 65% of executives surveyed were dissatisfied with prevailing business conditions in the first quarter
SA business confidence unexpectedly fell in the first three months of the year as the impact of a surge in Covid-19 infections weighed on corporate sentiment in a fragile economy still battling to recover from the pandemic.
The RMB/BER Business Confidence Index (BCI) dropped to 35 in the first quarter of 2021, from 40 in the final quarter of 2020, which, at the time, was the highest reading in more than two years, according to a statement from Rand Merchant Bank (RMB) on Wednesday. A reading above 50 indicates the majority of respondents are optimistic about the prevailing business conditions in the country, while a reading below 50 indicates the opposite...